HTC cuts dozens of jobs in India while clinging to the market
HTC has been in decline for years and the revenue reports prove it. The Taiwanese company is now in a position to aggressively cut losses where it can and one of those places is India — where according to Counterpoint Research, it only has less than 1 percent share in the smartphone market.
The Economic Times has reported from sources that most of the 70 or so positions at HTC India have been eliminated, including the team lead, chief of sales and chief of product. The few that remain will operate under the directive of the main sales team in Taiwan to sell its current smartphones and Vive virtual reality products.
One distributor claims that HTC owes them hundreds of thousands of dollars in fees. The OEM has relations with two national distributors.
A company spokesperson told the paper that it is not leaving the Indian smartphone market as was suggested by one source as it is one of its important markets — there are still more than ten employees at its offices. According to the Times, “the company will continue to invest in the country in the right segments and at the right time.” HTC is also working with distributors to make sure product continues to be sold, but has not commented on overdue payments.
Still, the picture looks bleak for this once-great Taiwanese enterprise and one office executive put it as such.
“As of now, it is quitting.”